Goldman Sachs hired one of the top women on the buy-side
As Goldman Sachs focuses on diversity under David Solomon, hiring senior women externally is one way of increasing its number of female managing directors (MDs). In this sense, the firm may benefit doubly from its latest MD hire: she's a woman and has over 14 years managing risk on the buy-side.
Jennifer Stack joined Goldman's New York City office as a managing director this month according to her LinkedIn profile. She was previously managing director of Grosvenor Capital Management (GCM), a Chicago- headquartered alternative investment firm with $55bn in assets under management.
Stack's role at Goldman is unclear. At GCM she was head of public markets risk management and served on the global investment council. She has a PhD in economics from Harvard University and a BA in economics and mathematics from Wellesley College.
Analysis last month by research firm Preqin found that women only make up 15% of investment teams at alternative asset management firms and only 10% of people in investment teams.
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